AutoNation reports 45 percent jump in May sales

Fort Lauderdale-based AutoNation on Monday reported a 45 percent jump in retail sales of new vehicles in May, compared with a year earlier.

Gains by the country's largest vehicle retailer far exceeded growth industrywide, up 25 percent for the month from last year, according to researcher Auto Data.

AutoNation said it sold 23,763 new units in May. Of those, 12,300 were sales in its (non-premium) imports division, up 78 percent from a year ago. Japanese models have been regaining market share lost last year after Japan's tsunami reduced output by Toyota and other Japanese automakers, analyst say.

By state, AutoNation said California scored the biggest gain for the month, up 60 percent, followed by Texas, 47 percent, and Florida, 44 percent.

Auto sales have been a bright spot in the U.S. recovery after sales took a nose-dive in the recession. Consumers are buying now, because many cars are old and need replacing; auto loans are readily available at low interest rates; and new vehicles get better gas mileage, saving drivers long-term, says AutoNation Chief Executive Mike Jackson.